BumpâŚ
The solution seems to be good. I was also thinking on a sell tax that would decrease in time, staking and also VESTING, to decrease sell pressure.
What I donât quite understand is what would be the plan(what would happen) to UST peg.
I think theoretically what would happen is the Luna supply would shrink (which is the backing for UST) since the Luna price would then go above the marketcap for UST again (hopefully) it will then repeg UST via the normal mint/burn mechanics for UST/LUNA
NO ONE ANSWERED ME ON THIS TOPIC ABOUT AN ALLEGED 22B RESERVE YET
I remember Do Kwon mentioned that, itâs Luna foundationâs fund. it should be use in case of crisis, like this, but seems the team donât want to use it.
That would happen only if the luna/ust mechanism is re-enabled again. When should we enable that?
unfortunately you cant give money to people who lost money in a crash - its unethical and illegal, would result in massive lawsuits. Agreed with some of the other points though. Best thing for people who lost money to do is DCA right now. 1 LUNA = 1 LUNA no matter where/when/for how much you bought it. Could go to zero, could go to a dollar. Its risky, just like when you bought before. A lot fo the people who lost money in the crash were already up 100x, to give them back their gains at the expense of someone elses gains isnt the answer.
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They had NEARLY 30 BILLIONS in reserves and couldnât use them to fix UST peg in the first place? It was evident minting all the LUNAs in the world wasnât going to help there?
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this is something we want to talk to the team, and the project is losing confidence from supporters.
they want a way to skip the crisis, but we canât do that at every crisis, fork is the stupidest solution ever.
fork will not solve the problem from attackers.
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Basically with the inflation as I just saw on the internet, for Luna to go back to a dollar it would have to reach a marketcap 13 times as high as bitcoins. For 10 cents, it would need a higher market cap than bitcoing, and for even a penny it would need a market cap 70% of bitcoin, which is over 400 billion dollars. Never going to happen, not in a billion years.
The fork is the way.
Itâs the only way.
I understand the people who thought they were about to become billionaires and trillionaires by Luna going back up to a dollar or back to its ATH are going to be disappointed, but that was never going to happen even if literally the whole world got onboard with the burn.
Itâs like you completely skipped reading the proposal lol. Fork and you kill Terra and get the team in deep legal shit
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supply needs to be bought at market and burnt, thats how we get to a dollar.
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you mean with current supply or even if it is only a few hundred million tokens?
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Ok, so doing a grossly oversimplified simulation this is what I got⌠bear in mind that this is just a simple mind exercise and doesnât consider several important factors such as increasing market cap/prices and other suggestions such as a fee cap or refunds to pre depeg holders.
Basically this means to show that at pre depeg transaction volumes, the 3% proposal fee would need an average transaction size that is almost about 1/100 the average transaction size pre depeg to be able to burn and reach the desired circulating supply of 1B Luna within 2 yearsâŚ
While this is a gross oversimplification it does go to show that burning is a seemingly feasible solution.
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how much supply? what if the markets reacts with increased price and buyback becomes out of reach due to cost? buyback in phases and assess?
I believe this is better than Fat manâs proposal. It would save lots and lots LUNA holders equally.
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It doesnât need to go to 1$ or 0.1$. The only thing that matters is rhe market cap.
Probably the smartest action they took. Keep liquid reserves until the system can not be exploited again.
buyback will burn 3% too, and they will sell it maybe at $1 / $2 / $15 or even more, but it still encourage people to do transaction.
Everyone saying if you fork then you lose trust and you canât invest, No.
If you fork you regain the trust of everyone who built Terra Luna in the first place.
And that includes not one single solitary person who bought during the attack.
Whether they were trying to save Luna or not could be debated but itâs uncontestable that they had no hand in building it.
The people who were in for the long haul especially the stakers are the ones who built it and can rebuild it. To leave them with nothing is the ultimate unforgiveable betrayal. You dance with the one what brought you.
If you lose their trust, all of you have are the penny-ante latecomers looking to make a quick buck. Thatâs what will destroy Terra Luna forever. Guaranteed. On top of the fact that there isnât enough money on a thousand Earths to buy, trade, and burn enough Luna when itâs supply is over 6 trillion to ever make any meaningful difference. If nothing else, the law of supply and demand will make sure of it.
If you lose the trust of the people who bought at $.000005, thatâs okay. Those people never had a hand in building Terra Luna. They matter as human beings of course, but they donât matter at all when it comes to recovering from this man made disaster and getting Terra Luna back on its feet. Theyâre nothing more than carpetbaggers and if they get anything at all in the fork they should be eternally grateful because itâs more than they deserve.
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